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Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
 This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which is evidenced by the numerous transactions being concluded lately. We are seeing an increased number of vessels being inspected and a substantial number of vessels also being negotiated as we speak.
In the dry bulk sector and in view of the recent increased supply of market candidates, we are seeing a slight softening in values despite the satisfactory freight rates. The period market has not been as firm as in the previous weeks, but we notice that owners feel reluctant to fix their vessels amidst a sideways/slightly negative performance of the freight market.
The same reservedly optimistic sentiment is also evident on the SnP side. We are noticing that a number of buyers are keen to acquire a vessel, with focus on those built 2008 onwards. Greek buyers have been very active, particularly in Supramax sector, as they still see values at attractive levels.
Following three rounds of inspections, the ‘MAEMI SPIRIT’ (53,482dwt-blt ‘08, Japan) is now reported sold to Greek buyers for a price in the region of $11.2m, a level significantly lower than the $13.05m the ‘NIKKEI DRAGON’ (52,950dwt-blt ‘09, Japan) managed to obtain the prior week. In the Kamsarmax sector, Greek buyers are reported to have bought the ‘PRIME LILY’ (81,507dwt-blt ‘12, S. Korea) for a price in the region of $20.6m, basis delivery Atlantic, which would justify the premium on price and we compare this to the ‘JAG ARYA’ (81,000dwt-blt ‘11, S. Korea), which was sold to Greek buyers, for a price in the region of $18.95m a few weeks ago.
In the tanker sector and in view of the recent increase in freight rates, particularly on the crude side, buying interest is now becoming more apparent. Two Aframaxes the ‘DHT CATHY’ (119,928dwt-blt ‘04, S. Korea) and the ‘DHT SOPHIE’ (112,045dwt-blt ‘03, S. Korea) have been sold for a price in the region of $12.4m and $11.9m respectively to Greek buyers. A number of similar aged ships are now inviting offers and we expect to report more on them within the next couple of weeks.
As far as MR tankers are concerned, the ‘NORD INNOVATION’ (47,981dwt-blt ‘10, Japan) has been sold for a price in the region of $17.2m to Turkish buyers (c/o Densay) after seven buyers inspected her in Rotterdam. The fact that the vessel will be delivered with surveys passed and BWTS installed has affected her final price that is higher compared to the last done.
Additionally, we are noticing that banks are also becoming more optimistic on the tanker sector with increasing talk of financing for bigger vessels as well, possibly seeing the same opportunities they saw on the dry bulk side when the sector was slowly coming out of its lows in the not-too-distant past.
One thing is certain, the SnP market will maintain everyone’s interest vivid in the coming winter and it looks like buying opportunities are still present in both sectors.
By Vasilis Moiris
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Planning Commission, India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
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